London Theaters Grossed Record $831 Million in 2012

By Farah Nayeri -
Jan 29, 2013

London theaters saw revenue rise
0.27 percent to a record 529.8 million pounds ($832 million) in
2012, even though ticket sales dipped during the London Olympic
Games.

In attendance terms, there was a 0.56 percent rise to 13.99
million, the Society of London Theatre announced today. The
organization represents the owners, managers and producers of 52
subsidized and commercial theaters in London, and organizes the
Olivier Awards.

Revenue from plays alone was up 6 percent to 125 million
pounds, and attendance was up 9 percent to 4.11 million. SOLT
attributed the rise to West End productions such as “Richard
III” and “Twelfth Night” starring actor Mark Rylance, and of
writer Nick Payne’s “Constellations.”

“While sales and attendances did drop during the summer
Olympic weeks,” SOLT said in a release, “the overall growth
during 2012 can be attributed to a very strong first half of the
year and good sales during the autumn weeks.”

Last year, musicals grossed 322 million pounds, a 2 percent
drop on 2011. Attendance was down 3 percent.

Other types of performances -- such as opera, dance,
performance pieces and entertainment -- registered a 1 percent
increase in revenue to 82.5 million pounds, while attendance
declined 2 percent there.

In terms of value-added tax receipts for the U.K.
government, London theater generated 88.3 million pounds, SOLT
said.

The Olympics had an adverse effect because venues closed on
the night of the opening ceremonies and fewer shows were
programmed in August when the games were in full swing.

The Olivier Awards, the London theater’s equivalent of the
Oscars, will be held at the Royal Opera House on April 28.